ISLAMABAD — Pakistan, ADB sign $720Million deal to advance infrastructure, housing projects with PM Shahbaz praising the role of Asian Development Bank.
Asian Development Bank (ADB) delegation called on Pakistan Prime Minister Shehbaz Sharif to discuss ongoing and future collaborations. During the meeting, as premier highlighted recent government reforms aimed at bolstering economic stability and growth.
These reforms focus on increasing tax revenues, improving the energy sector’s financial sustainability, enhancing climate resilience, reducing non-targeted subsidies, and expanding social protection.
Sharif acknowledged ADB’s vital support, including over $1.5 billion provided in response to the 2022 floods. He reiterated Pakistan’s commitment to working with international partners on climate resilience and agricultural projects.
President Asakawa praised Pakistan for its enduring partnership with ADB and the government’s reform efforts. He reaffirmed ADB’s ongoing support for the country’s infrastructure and climate initiatives.
The meeting culminated in the signing of two significant projects: the Sindh Emergency Housing Reconstruction Project, valued at $400 million, and the Khyber Pakhtunkhwa Rural Roads Development Project, worth $320 million. These projects are part of ADB’s broader flood recovery and support commitments to Pakistan.
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